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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2017
Fair Value Disclosures [Abstract]  
Assets And Liabilities Measured At Fair Value On A Recurring Basis
Assets and Liabilities Measured at Fair Value on a Recurring Basis
 
As of June 30, 2017
 
Quoted
Prices In
Active Markets
for Identical
Assets (Level 1)
 
Significant
Other
Observable
Inputs (Level 2)
 
Significant
Unobservable
Inputs (Level 3)
 
(In thousands)
Assets:
 
 
 
 
 
 
 
Cash and cash equivalents:
 
 
 
 
 
 
 
Cash
$
753,839

 
$
753,839

 
$

 
$

Money market funds
89,406

 
89,406

 

 

Corporate securities
1,526

 

 
1,526

 

Available-for-sale securities:
 
 
 
 
 
 
 
Agency securities
478,767

 

 
478,767

 

Corporate securities
804,482

 

 
804,088

 
394

Municipal securities
3,977

 

 
3,977

 

Government securities
269,250

 

 
269,250

 

Prepaid expenses and other current assets:
 
 
 
 
 
 
 
Foreign currency derivatives
3,264

 

 
3,264

 

Total assets
$
2,404,511

 
$
843,245

 
$
1,560,872

 
$
394

Accrued expenses and other current liabilities:
 
 
 
 
 
 
 
Foreign currency derivatives
989

 

 
989

 

Total liabilities
$
989

 
$

 
$
989

 
$


 
As of December 31, 2016
 
Quoted
Prices In
Active Markets
for Identical
Assets (Level 1)
 
Significant
Other
Observable
Inputs (Level 2)
 
Significant
Unobservable
Inputs (Level 3)
 
(In thousands)
Assets:
 
 
 
 
 
 
 
Cash and cash equivalents:
 
 
 
 
 
 
 
Cash
$
528,637

 
$
528,637

 
$

 
$

Money market funds
224,765

 
224,765

 

 

Corporate securities
82,693

 

 
82,693

 

Available-for-sale securities:
 
 
 
 
 
 
 
Agency securities
411,493

 

 
411,493

 

Corporate securities
840,966

 

 
839,968

 
998

Municipal securities
9,988

 

 
9,988

 

Government securities
444,618

 

 
444,618

 

Prepaid expenses and other current assets:
 
 
 
 
 
 
 
Foreign currency derivatives
2,506

 

 
2,506

 

Total assets
$
2,545,666

 
$
753,402

 
$
1,791,266

 
$
998

Accrued expenses and other current liabilities:
 
 
 
 
 
 
 
Foreign currency derivatives
4,435

 

 
4,435

 

Total liabilities
$
4,435

 
$

 
$
4,435

 
$

Fair Value, by Balance Sheet Grouping
As of June 30, 2017, the fair value of the Convertible Notes, which was determined based on inputs that are observable in the market (Level 2) based on the closing trading price per $100 as of the last day of trading for the quarter ended June 30, 2017, and carrying value of debt instruments (carrying value excludes the equity component of the Company’s Convertible Notes classified in equity) was as follows (in thousands):
 
Fair Value
 
Carrying Value
Convertible Senior Notes
$
1,738,506

 
$
1,367,092